Genworth Financial (GNW) Q2 2026 earnings summary

Executive summary

• Net income for Q2 2026 was $47 million ($0.12 per share), with adjusted operating income excluding the Closed Block at $112 million ($0.29 per share), consistent with prior periods.

• Enact delivered $143 million in adjusted operating income, $103 million in capital returns, and strong new insurance written growth.

• CareScout expanded its network, doubled local advisors, and prepared for a Q3 launch of its worksite insurance product approved in 34 states.

• Closed Block segment reported an adjusted operating loss of $110 million, mainly due to adverse LTC experience and liability remeasurement losses.

• Share repurchases totaled $62 million in Q2, with $918–$922 million repurchased since inception.

Financial highlights

• Enact's new insurance written was $15–$15.2 billion, with primary insurance in force up 2% year-over-year to $274 billion and a persistency rate of 80%.

• Enact's loss ratio was 14%, driven by reserve releases and improved from 15% in Q1 2026.

• CareScout Services generated $6 million in Q2 revenue, $12 million for the first half, and is expected to reach $25 million for the full year.

• Holding company ended Q2 with $215 million in cash and liquid assets; debt reduced to $768 million.

• Consolidated revenues reached $1.9 billion, up 6% year-over-year.

Outlook and guidance

• Enact expects to return $445–$600 million in capital for 2026 based on 81% ownership.

• Share repurchase allocation for 2026 guided to $225–$250 million, subject to market and business conditions.

• CareScout Services targeting 7,500 matches in 2026, with current volumes pacing below target.

• Investment in CareScout Services expected at $50–$55 million for 2026; no additional capital investment in CareScout Insurance anticipated.

• Ongoing focus on LTC in-force rate actions and benefit reductions to manage tail risk.